SR-NASD-2006-012

Proposed Amendments to IM-2110-2 to Clarify the Application of the Manning Rule to Non-Market Makers

NASD has filed with the Securities and Exchange Commission ("SEC" or "Commission") a proposed rule change to amend NASD Interpretive Material (IM) 2110-2, Trading Ahead of Customer Limit Order (commonly referred to as the "Manning Rule"), to codify NASD's existing position that the Manning Rule applies to all members, whether acting as a market maker or not.